Originally published on: November 15, 2024
In the world of tech, the fusion of artificial intelligence and cryptocurrency is creating a buzz. AI crypto tokens have surged to market caps exceeding $1 billion, attracting significant investor interest. However, the real question remains: is there a genuine demand from users for blockchain AI projects?
While mainstream AI programs like ChatGPT and Microsoft’s Copilot are widely used, blockchain and crypto protocols are not as commonly mentioned by the average user. The future of user demand for blockchain AI remains uncertain. Can blockchain AI truly transform the world, or is it just another fundraising fad?
To shed light on this issue, Cointelegraph interviewed executives from leading blockchain AI protocols. Guarav Sharma, CTO of AI project IO, highlighted the inefficiencies of centralized cloud computing systems in meeting the demands for GPUs required by AI developers. Decentralized blockchain projects like IO aim to bridge this gap by creating a marketplace for GPU power, allowing users to access GPUs efficiently.
Sharma emphasized the importance of scrutinizing the team behind AI projects, as not all teams deliver value. He recommended looking for a track record of successful work and transparency through open-sourcing of code and regular audits.
Kartin Wong, co-founder of ORA, anticipates the integration of AI into blockchain prediction markets in the future. ORA’s innovative approach of launching tokens through an “initial model offering” enables untrained AI models to raise funds for training, benefiting tokenholders and promoting transparency.
Similarly, Ron Chan, co-founder of Inference Labs, highlighted the pivotal role of blockchain in achieving autonomous AI. He discussed the significance of decentralized AI in driving human-centric innovation and solving major challenges in the industry.
The interviewees shared examples of consumer-facing blockchain AI apps like OLMChat and liquid staking apps that are paving the way for blockchain AI adoption among users. While the benefits of blockchain AI may take time to fully materialize, the industry remains optimistic about its potential to revolutionize the world.
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